The COLA has been announced. Now the big question is: How far will it go?
You’ve probably heard that Social Security is getting a 2.8% boost next year thanks to the cost-of-living adjustment (COLA). So far, much of the attention has been on how this will affect retirement benefits. But those aren’t the only checks that will increase in January.
Spousal benefits are increasing, too, and this could give married couples a little more breathing room in their monthly budget. However, the change isn’t likely to raise your standard of living in 2026.
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What the 2.8% COLA will do for the average couple
Most married couples have two Social Security checks to look forward to. This could be one retirement benefit and one spousal benefit or two retirement benefits. Regardless of the type, the government adds the COLA the same way.
It’ll add another 2.8% to your primary insurance amount (PIA). This is the benefit you would have been entitled to if you applied for Social Security at your full retirement age (FRA). That varies by birth year, but it’s 67 for most workers today.
Many people don’t apply right at their FRA, so the Social Security Administration then adjusts your benefit up or down depending on when you signed up. Early claiming shrinks your checks up to 30% for retirement benefits and up to 35% for spousal benefits. Delaying Social Security past your FRA can grow your retirement benefits by 8% per year. Spousal benefits don’t grow any more after your FRA.
Because of all these moving parts, everyone has a slightly different benefit and will see their checks grow by a different dollar amount next year. The estimated household benefit for an aged couple on Social Security for January 2026 is $3,120 before the COLA. When you add that in, it jumps to $3,208 — an $88 increase.
That will give the typical retired couple a little over $1,000 more next year. However, it’s possible that your expenses may have risen by more than this in 2025 due to inflation.
What to do if the COLA doesn’t go far enough
The Social Security Administration should send you personalized COLA notices in December with your exact 2026 benefit amount. But you can approximate yours by adding 2.8% to your current checks. Subtract this estimate from your monthly expenses so you know how much you’ll need to cover on your own next year.
Then, start coming up with a strategy to pay for what Social Security doesn’t. There are different ways to handle this, including:
- Fall back on personal savings: If you have money stashed away in retirement accounts, you can use these funds to cover your remaining expenses.
- Reduce expenses: When possible, cut back on discretionary expenses so you can stretch your savings further.
- Sell unused items: If you have unused possessions you’re willing to part with, sell them through an online marketplace for a bit of extra cash.
- Find a retirement job: Income from a job can supplement your Social Security checks and it may also give you a sense of purpose and an opportunity to socialize with others.
- Apply for government benefits: Your federal, state, and local government have benefit programs that can help seniors and low-income families cover their essential costs, like housing, healthcare, and groceries. Contact your state social services agency to learn how to apply.
It’s also fine to use a combination of these strategies if that works best for you. Talk it over with your spouse and come up with a plan you’re both happy with. Then, put it into action right away in January. Try it out for a month or two and then revisit it again. Make whatever changes are necessary until you find something you can stick to for the rest of 2026.